President Obama announced his new proposed budget yesterday, and needless to say it neglected the kind of real cuts that need to be made. What did Glenn think?
“Obama has raised our national debt to $26 trillion in ten years. The current national debt is $13.56 trillion. By the end of 2021, that debt would rise to $26 trillion,” Glenn said.
“Barack Obama didn't cut Social Security. Nobody in Congress is cutting Social Security or Medicaid, Medicare or any of that stuff.”
Durng the show, Obama held a press conference addressing his proposed budget.“On the budget, what my budget does is to put forward some tough choices, some significant spending cuts so that by the middle of this decade our annual spending will match our annual revenues. We will not be adding more to the national debt.”
“To use a, sort of an analogy that families are familiar with, we're not going to be running up the credit card anymore.”
“One third of his budget cutting is actually tax increases. That's not cutting anything!” Pat argued.
“Nobody asks a follow-up question,” Pat added.
“Even if you accept their narrative here that the Bush administration is responsible for these ridiculously high deficits that we have now, it's amazing because once all of that goes away and Obama fixes the problem, quote/unquote and we get down to only $607 billion of deficit in 2015, the deficit is higher than that in 2016, 2017, 2018, 2019, 2020 and 2021. Does Bush get reelected? Is that what they are saying here? Maybe Bush gets the job back! Maybe they are projecting George W. Bush comes back for a third term to increase the deficit again!," Stu said.
"Perhaps that's what they're saying is going to happen because I thought Barack Obama was going to get this under control and fix it. Doesn't seem like that's happening. Even at his own ridiculous projections,” Stu argued.
